Property Management: 5 Inexpensive Ways to Attract Tenants in Kitchener

When it comes to owning rental property, the goal is to have steady tenants. Whether you have a vacation home for rent, commercial or residential property, you need to find tenants who will stick around so you can earn a steady income. But how do you attract tenants to your properties? If you are just starting out with real estate investments, your budget is most likely limited. Read on to find out how you can attract tenants in Kitchener in an inexpensive way.

Social Media

One of the best ways to attract new tenants is via social media. If you have a company social media page, alert your followers to any openings you have for your properties. Use photographs and descriptive wording and watch as your followers like your post plus share your information. This is free advertising that can easily lead to a new tenant for your property.

Flyers

Go to the local print shop and pay a small amount of cash to print up a simple flyer with information on your property. It can be beneficial to post a few flyers within the area of your property or around the local hangouts to be seen by potential tenants.

Invest in Signage

Depending on where your property is, you can spend a little on signage to bring in tenants. Perhaps you own a townhome in a busy downtown area. Create a colourful and eye-catching sign to place out front that shows the property is available. This way, anyone driving or walking by can see that your property is for rent and inquire for more information.

Cold-Calling

Another option involves your Kitchener property management team. Cold calling can do wonders in helping to find new tenants for your property. Have property managers scour the want ads both online and in local newspapers. Many times, businesses or individuals will take out ads seeking commercial properties or homes for rent. By looking at the ads and calling these individuals, your property managers may be able to find you a renter quickly.

Word of Mouth

It costs absolutely nothing to talk about your properties with others. Take time to contact friends and family as well as associates to talk about your rental property. By telling others about what you have for rent, they can spread the word or many know someone looking for a rental space. By letting others know about your property, you may quickly be able to find an individual or business ready to move in.

These are just a few inexpensive ways that you can promote your property. Think about your local community and the best way to inform individuals of what you have on offer. This will help you to decide the best way in which to advertise your property.

At Latitude Properties, we are ready to help you keep your properties occupied with tenants. Contact our office today to see how our property management services can benefit you.